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Brazil rates fall on expected energy cost cuts RIO DE JANEIRO: Brazil's interest-rate contracts reversed early gains on Wednesday after Reuters reported that President Dilma Rousseff, in an attempt to rein in inflation, will unveil larger-than-expected cuts in the country's energy bills.   Rousseff will cut energy fees for households by an average 18.5 percent, while industrial consumers will benefit from reductions of up to 34 percent, according to a government source, who said the official announcement will be made later on Wednesday.   The figures compare with previously announced reductions of an average 16 percent and of up to 28 percent, respectively.   Concerns that inflation could near the ceiling of a government target have been driving up Brazil's interest-rate futures, despite central bank pledges to keep the base Selic rate at an all-time low of 7.25 percent for a "prolonged period."   Longer-dated contracts had jumped early in the session on Wednesday after Brazil reported consumer inflation that started the year well above market ...

Venezuela alleges right wing plot against top Chavez allies CARACAS: The Venezuelan government charged Wednesday that rightwing extremists were plotting to attack Vice President Nicolas Maduro, ailing President Hugo Chavez's handpicked successor.   "We have received some very important intelligence in which actors from Venezuela's extreme right, working with right wing actors from outside the country, were plotting an attack against the vice president of the republic," said Interior Minister Nestor Reverol.   "They were also plotting against the president of the National Assembly," he said, referring to ...
Chavez health CARACAS: Ailing Venezuelan President Hugo Chavez has no scheduled date to return home from Cuba despite an "encouraging" report on his health, Communications Minister Ernesto Villegas said on Tuesday.   Villegas said the report on Chavez's health by his son-in-law, Technology Minister Jorge Arreaza, "has been very encouraging." But he added: "No date is set for his (Chavez's) return yet."   Copyright APP (Associated Press of Pakistan), 2013 ...
Brazil rules out power shortages during 2014 World Cup BRASÍLIA: The Brazilian government on Tuesday ruled out risks of power shortages during the 2014 World Cup despite delay in electricity generation projects in 10 host cities.   "The delays in the (power) generation projects do not pose any risk of energy shortages during the Cup," said a statement from the national electrical energy regulator Aneel.   The daily Folha de Sao Paulo published a technical report from Aneel on Tuesday warning of delays in energy generation projects in ...
Chavez in therapy, eyes return: Morales CARACAS: Venezuela's President Hugo Chavez is undergoing physical therapy to hasten his return from Cuba after surgery there last month for the cancer jeopardizing his 14-year rule, Bolivian President Evo Morales said on Tuesday.   The comments by Morales, a fellow leftist and close friend of Chavez, added to positive signals from Venezuelan officials that the president was improving and may be able to return from Cuba, where he had surgery on Dec. 11.    He has not been ...
Mexico plans foreign debt issuance in 2013: ministry MEXICO CITY: Mexico will seek to issue foreign currency debt in dollars, euros and yen in 2013, deputy finance minister Fernando Aportela said on Tuesday.   Aportela said market conditions would determine how much debt the government would issue in foreign currency within a $7 billion limit approved by Congress for 2013.   Copyright Reuters, 2013 ...
Brazil govt sees inflation converging to target in SAO PAULO: Brazil's inflation will remain under pressure in the beginning of this year, perhaps until February, but key members of President Dilma Rousseff's economic team estimate that prices will then start to converge in a "more linear" manner to the center of a government target.   Such a forecast is based on the positive impact of a large grains harvest due in the next few months, a source on the president's economic team said late on ...


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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyMarch 13, 2015
Reserves $16.273 bln